FTN wrote:

...

Sorry - I ended up rambling anyway. As I think you can guess, I'm getting really fed up with this emerging "there's no crisis" meme. It's fueled entirely by ignorance and fury over a too-clever-by-half Republican political rope-a-dope. Keep reading Krugman, etc. They get it.

Link

BuddyGroom wrote:Some interesting 9/24 polling results (copied and pasted from Talking Points Memo):

9/24: Gallup Pres-Tracker: Obama 47%, McCain 44%

9/24: Hotline/Diageo Pres-Tracker: Obama 48%, McCain 42%

9/24: Rasmussen Pres-Tracker: Obama 49%, McCain 47% (first time in a while I've seen Obama ahead in Rasmussen polling)

9/24: Res. 2000 Pres-Tracker: Obama 48%, McCain 44%

9/24: CNN CO: Obama 51%, McCain 47%

9/24: CNN MT: Obama 54%, McCain 43%

9/24: CNN PA: Obama 53%, McCain 44%

9/24: Fox News Pres: Obama 45%, McCain 39%

Wizlah wrote:

FTN wrote:

...

Sorry - I ended up rambling anyway. As I think you can guess, I'm getting really fed up with this emerging "there's no crisis" meme. It's fueled entirely by ignorance and fury over a too-clever-by-half Republican political rope-a-dope. Keep reading Krugman, etc. They get it.

Link

Seriously, I'm surprised that it's only now getting this bad stateside. Well, okay, we only had one bank go down, and it's not like the city was imploding back in january. But All that's been talked about in the papers here for the last three months is MORTGAGEFUELMORTGAGEFUELOHBOLLIX. Oh, and that period of stagflation we've just had in the last quarter, I think. Or as they called it, a period of no economic growth at the same time as an increase in the rate of inflation. Although it hasn't run to a year yet. jusqu'ici tout va bien.

Anyhow, it never ceases to amaze me how little attention I pay elsewhere in the world. I thought ye all were in the $#@!, but it appears you've only been paddling before taking the plunge.

"The collapse of emerging market economies will shake investors to the core. The great unwind has only just begun," said Albert Edwards, the bank's global strategist.

"The big surprise in store is what could happen in China. The potential for a deep recession in the US is already on the radar screen, but people will be stunned if China's economy contracts, as I believe it will. Investors could be massively caught out," he said.

"The consensus has a touching belief that emerging markets will prove resilient despite a deep downturn in developed economies. My view is that an outright contraction in global GDP is entirely possible next year."

"The emerging market boom is totally tied up with a decade of ballooning current account deficits in the US. Put that into reverse and you'll be surprised what pops out of the woodwork."

Mr Edwards said the vast accumulation of foreign exchange reserves – led by China with $1.8 trillion – had provided the "rocket fuel" of liquidity for frontier markets. This virtuous circle has now turned vicious as America tightens its belt. Countries in Asia and Latin America are intervening to prop up their currencies, causing reserves to fall.

"We could see monthly trade surpluses in the US within a year. The emerging market liquidity squeeze will intensify ferociously, and assets linked to the region will become toxic waste. That includes previously resilient banks such as HSBC, Standard Chartered and Banco Santander," he said.

FTN wrote:

"The collapse of emerging market economies will shake investors to the core. The great unwind has only just begun," said Albert Edwards, the bank's global strategist.

"The big surprise in store is what could happen in China. The potential for a deep recession in the US is already on the radar screen, but people will be stunned if China's economy contracts, as I believe it will. Investors could be massively caught out," he said.

"The consensus has a touching belief that emerging markets will prove resilient despite a deep downturn in developed economies. My view is that an outright contraction in global GDP is entirely possible next year."

"The emerging market boom is totally tied up with a decade of ballooning current account deficits in the US. Put that into reverse and you'll be surprised what pops out of the woodwork."

Mr Edwards said the vast accumulation of foreign exchange reserves – led by China with $1.8 trillion – had provided the "rocket fuel" of liquidity for frontier markets. This virtuous circle has now turned vicious as America tightens its belt. Countries in Asia and Latin America are intervening to prop up their currencies, causing reserves to fall.

"We could see monthly trade surpluses in the US within a year. The emerging market liquidity squeeze will intensify ferociously, and assets linked to the region will become toxic waste. That includes previously resilient banks such as HSBC, Standard Chartered and Banco Santander," he said.

Link

Trent Steele wrote:

FTN wrote:

"The collapse of emerging market economies will shake investors to the core. The great unwind has only just begun," said Albert Edwards, the bank's global strategist.

"The big surprise in store is what could happen in China. The potential for a deep recession in the US is already on the radar screen, but people will be stunned if China's economy contracts, as I believe it will. Investors could be massively caught out," he said.

"The consensus has a touching belief that emerging markets will prove resilient despite a deep downturn in developed economies. My view is that an outright contraction in global GDP is entirely possible next year."

"The emerging market boom is totally tied up with a decade of ballooning current account deficits in the US. Put that into reverse and you'll be surprised what pops out of the woodwork."

Mr Edwards said the vast accumulation of foreign exchange reserves – led by China with $1.8 trillion – had provided the "rocket fuel" of liquidity for frontier markets. This virtuous circle has now turned vicious as America tightens its belt. Countries in Asia and Latin America are intervening to prop up their currencies, causing reserves to fall.

"We could see monthly trade surpluses in the US within a year. The emerging market liquidity squeeze will intensify ferociously, and assets linked to the region will become toxic waste. That includes previously resilient banks such as HSBC, Standard Chartered and Banco Santander," he said.

Link

Whatever. Sarah Palin is in the hizzouse, so I'm not worried. I'm sure she's on top of this.

Camp Holdout wrote:mccain has asked to postpone the friday debate to "work on the economy"...

David Letterman tells audience that McCain called him today to tell him he had to rush back to DC to deal with the economy.

Then in the middle of the taping Dave got word that McCain was, in fact just down the street being interviewed by Katie Couric. Dave even cut over to the live video of the interview, and said, "Hey Senator, can I give you a ride home?"

Earlier in the show, Dave kept saying, "You don't suspend your campaign. This doesn't smell right. This isn't the way a tested hero behaves." And he joked: "I think someone's putting something in his metamucil."

"He can't run the campaign because the economy is cratering? Fine, put in your second string quarterback, Sara Palin. Where is she?"

"What are you going to do if you're elected and things get tough? Suspend being president? We've got a guy like that now!"

mpmcgraw wrote:wow.

in the course of two weeks we have gone from mccain is our next president to lol the republicans actually thought this senile moron could win.

lol politics.

mpmcgraw wrote:well i don't post 40 times a day on a message board while continously destroying my liver in the company of only my keyboard so there's that.

mpmcgraw wrote:well i don't post 40 times a day on a message board while continously destroying my liver in the company of only my keyboard so there's that.

Woody wrote:

mpmcgraw wrote:well i don't post 40 times a day on a message board while continously destroying my liver in the company of only my keyboard so there's that.

No really. You are dumb.

meatball wrote:

mpmcgraw wrote:well i don't post 40 times a day on a message board while continously destroying my liver in the company of only my keyboard so there's that.

As if that's any worse than any of us posting continuously all day in the company of only our keyboards. At least bsg isn't his only vice.

The Dude wrote:in your ability to make every argument dumb